The Income Declaration Scheme, 2016 - Undisclosed Income Invested in Acquisition of such Capital Asset https://www.taxtmi.com/circulars?id=54747 Undisclosed income represented by investment in any asset shall be deemed to be the fair market value as on 01.06.2016 for the purposes of the Income Declaration Scheme, 2016; cash in hand is an asset. Treating original investment plus capital gains from a pre-01.06.2016 sale (with proceeds held in cash) as the amount to be declared is not in accordance with the Scheme and Board clarifications. en-us Tue, 27 Sep 2016 00:00:00 +0530 Wed, 28 Sep 2016 14:23:00 +0530 TaxTMI RSS Generator The Income Declaration Scheme, 2016 - Undisclosed Income Invested in Acquisition of such Capital Asset https://www.taxtmi.com/circulars?id=54747 Undisclosed income represented by investment in any asset shall be deemed to be the fair market value as on 01.06.2016 for the purposes of the Income Declaration Scheme, 2016; cash in hand is an asset. Treating original investment plus capital gains from a pre-01.06.2016 sale (with proceeds held in cash) as the amount to be declared is not in accordance with the Scheme and Board clarifications. Circulars Income Tax Tue, 27 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/circulars?id=54747